Pain Management Devices Market Size, Share & Trends Analysis Report By Product (Radiofrequency Ablation, Neurostimulation), By Application (Cancer, Neuropathic), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global pain management devices market size was valued at USD 5.54 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2020 to 2027. The increasing cases of chronic diseases is one of the key factors expected to contribute to the growth of the market over the forecast period. The growing prevalence of lifestyle disorders, such as obesity and diabetes, has increased the demand for muscle and nerve stimulators, thereby augmenting the market growth. The rising cancer cases are expected to further increase product demand over the forecast period. Moreover, the high prevalence of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative disorders, and rheumatoid arthritis, and a resultant rise in cases of chronic pain and inability to carry out routine tasks, will boost product demand.

For instance, according to the CDC, over 54 million cases of arthritis were recorded in the U.S. in 2019, making it the primary reason for work disability. This has fueled the demand for pain management stimulators to manage chronic pain. The ineffectiveness of oral drugs is boosting patients to look for alternative treatment options, such as pain management devices. Moreover, the lack of preference for surgeries is one of the factors boosting demand.

The high costs associated with hospitalization have increased the need for a reduced hospital stay and the need to shift to less expensive care settings, thus boosting product demand. For instance, the average hospital stay cost accounted for around USD 15,734 in 2018. Moreover, technological advancements are anticipated to drive further growth. For instance, in September 2020 Boston Scientific launched WaveWriter Alpha Spinal Cord Stimulator Systems for personalized pain relief. In June 2020, Abbott partnered with Tandem Diabetes Care to develop integrated diabetes solutions.

However, the COVID-19 outbreak affected most of the sectors including the medical device industry. Nationwide lockdowns have impacted patients who specifically relied on exercise programs or PT as a pain management regimen. Moreover, many elective procedures, in-person patient visits have been suspended or delayed, which is expected to increase the demand for at-home pain treatment. In April 2020, Omron added a new Focus TENS Therapy device for the knee to its existing lineup of drug-free pain management products.

Product Insights

The neurostimulation segment held the largest revenue share of 57.5% in 2019. The growth can be attributed to the increased prevalence of neurological disorders. These neurostimulators play a crucial role in treating chronic pain, Parkinson’s disease, epilepsy, movement disorders, and depression. In addition, certain factors like escalating product demand, the introduction of technologically advanced products, and the growing geriatric population are anticipated to boost the segment growth.

Radiofrequency ablation is expected to register the fastest growth over the forecast period owing to its wide application in pain management, surgical oncology, gynecology, cardiology & cardiac rhythm management, and cosmetology. Radiofrequency ablation treatment is more beneficial than open surgery in treating patients with multiple tumors, which fuels its demand. Technological advancements in the field are also boosting segment growth. In June 2020, Boston Scientific launched a tool to monitor the effect of radiofrequency energy delivery during cardiac ablation procedures called DIRECTSENSE.

Application Insights

The neuropathic pain segment led the market with the maximum revenue share of over 31% in 2019. The growth can be attributed to the growing prevalence of the target population and increasing initiatives by the industry players. According to a report published in 2019 by the CDC, 65% of Americans aged 65 years or above suffered from chronic pain. In addition, neuropathic pain affects 3-17% of adults. The aforementioned factors are expected to propel segment growth.

The cancer segment is expected to register the fastest growth over the forecast period. The rising cancer cases have led to an increase in the demand for pain management devices to reduce the pain caused due to nerve compression, mainly because of the tumor compressing and other variables depending upon cancer’s progression. Moreover, the prevalence of genetic diseases, such as Acute Lymphoblastic Leukemia (ALL), is also expected to drive market growth during the forecast period. According to a report published by the National Cancer Institute, an estimated 5930 new cases of ALL were diagnosed and an estimated 1500 deaths were recorded in 2019.

Region Insights

North America accounted for the largest revenue share of 46.9% of the global market owing to the favorable healthcare infrastructure, which facilitates easy access to advanced pain management devices. Moreover, increasing government initiatives, such as the Precision Medicine and Affordable Care Act, along with a well-planned reimbursement scenario in this region is contributing to market growth.

Furthermore, the presence of key players in the region is expected to drive the market. Most of the companies in the region are involved in strategic initiatives for obtaining a higher market share. For instance, in May 2019, Abbott partnered with the U.S. National Institutes of Health (NIH) for the development of unique insights and driving applications of various neuromodulation therapies.

The market in Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. This growth can be attributed to R&D investments to produce technologically advanced healthcare treatment options. Moreover, the presence of several trade agreements is supporting market growth in the region. For instance, the Asia Pacific Trade Agreement (APTA) between China, Bangladesh, India, Lao PDR, Republic of Korea, Mongolia, and Sri Lanka has promoted trade liberalization and widened the import and export opportunities amongst participating nations.

Key Companies & Market Share Insights

The key companies have undertaken several strategic initiatives, such as technology innovation, partnership, regional expansion, and mergers and acquisitions, to strengthen their market position. For instance, in August 2020, Medtronic announced the commercial launch of its FDA-approved neurostimulator, called the InterStim Micro Neurostimulator.

The implant was meant for Sacral Neuromodulation (SNM) therapy to help patients gain effective bladder and bowel control. In October 2020, Smiths Medical launched the CADD-Solis ambulatory infusion pump version 4.2. This new version of the wireless bi-directional communication pump will help integrate pain management data with the EMR records of the patient. Some of the prominent players in the pain management devices market include:

• Smiths Medical

• B. Braun Melsungen AG

• Baxter

• Boston Scientific Corp.

• Colfax Corp.

• Medtronic Plc

• Nevro Corp.

• Abbott

• Stryker

• Omron Healthcare, Inc.

• Stimwave LLC

Pain Management Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global pain management devices market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Electrical Stimulators

    • TENS

    • Others

  • Radiofrequency Ablation

  • Analgesic Infusion Pumps

    • Intrathecal Infusion Pumps

    • External Infusion Pumps

  • Neurostimulation

    • Spinal Cord Stimulators

    • Deep Brain Stimulators

    • Sacral Neurostimulators

    • Others

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Cancer

  • Neuropathic Pain

  • Facial & Migraine

  • Musculoskeletal Disorder

  • Trauma

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • The Netherlands

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia